Leaderboard

AI investments are definitely long term investments and hence it is logical to think about the long term benefits from them. However, to keep the team motivated, organizations also look at benefits in the short term. This aspect has been appropriately highlighted by Anchal and hence his answer has been selected as the best.

AI Implementation for any organization is seen as a critical part of business strategy in todays world. With plethora of activities happening around this buzzword ‘AI’, it quite easy for any Strategic Manager to get completely soaked and fall prey to current AI glare, without giving a serious thought to the short and long term value creation through it. It is of pertinent importance that to reap the real sustainable benefits from AI usage, organizations should weigh all possible factors, that can make AI implementation successful. AI strategy has to be long term in every sense as it takes time to integrate existing systems and create new ecosystem. But, there are numerous short term benefits too. Creating balance between these two is what should be focused on. Key Factors to be considered for AI strategy ROI Short Term Value Creating Factors – - % of routine repetitive tasks that can be automated via AI, leading to cost and efforts reduction - Identification of Quick to harness workforce who can easily adopt to AI method and practices basis their current expertise proximity to AI, this creating ready resources for future AI expansion - Facets of business handling large data manually can be processed through AI, hence minimizing the risk of errors - Small systems/processes already standardized can be synced with AI tools to make delivery faster and smoother - Better utilization of time made available due to AI usage on more critical and strategic activities Long Term Value Creating Factors – - Change in organization DNA in a slow and steady manner, with workforce becoming more aligned with usage of new ways of working - Thought process shift from basic to data driven decision making, thus helping in well calculated decisions - Innovation in Product & Service Life Cycle by using emerging AI tools - Competitive Robustness for better market sustainability - Faster business propagation and diversification by using proven AI tools

AI solutions ultimately should support and improve the productivity of organizations. AI solutions itself cannot change anything, the way it will be used that will. Organizations should focus on the outcome and not on output. By asking the “So What?” question. OK, the project delivered the AI platform, so what? The benefits should be measured on what the solution changed for the organization. And that’s why the organizations should work on AI Programs that delivers Business benefits providing long term business value, rather than small AI projects, whose focus will only to successfully deliver technical outputs, i.e AI platform, AI chatbots but not measurable business benefits. These technical outputs are one of the components of the program, in itself it cannot deliver the business value. Organizations need to also upskill and upscale their employees capabilities for an AI savvy workforce. Organization can setup portfolios dedicated to improve organizations AI maturity. The portfolio will include subportfolios, programs and projects to achieve AI maturity. AI Strategy Officer along with EAI Solution architect needs to develop initiatives, strategies, roadmaps and AI blueprint required for an AI driven organization with leading and lagging KPIs for continous value measurement, be it for ROI or ROV (Return of value) .